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This is the first book to furnish a root cause of the low valuation of Japanese listed companies by using, as qualitative evidence, unique global investor surveys, which are rarely available for Japanese companies. Also contained in this book as quantitative evidence is empirical research with regression analysis implying a positive correlation between corporate governance and value creation in Japan. The author explains the rationale underlying the suggestion of the Ito Review on return on equity (ROE) 8% guidance, an almost 50% discounted valuation of the cash held by Japanese companies, corporate value and ROE, equity spread as a key performance indicator for value creation, an optimal dividend policy based on optimal capital structure, risk-adjusted hurdle rates for value-creative investment criteria, and the synchronization of environmental, social, and governance with equity spread. Illustrated with relevant statistics, evidence of shareholders’ voices, case studies, and empirical research, the book is highly recommended for readers who seek qualitative and quantitative evidence of Japan’s problems and potential prescriptions in connection with value creation. “This book empirically proves the relationship between non-financial capitals defined by IIRC and corporate value, and provides a convincing method to unlock corporate value in Japan via Abenomics corporate governance reforms. A must read!” Richard S. Howitt, Chief Executive Officer, International Integrated Reporting Council (IIRC) “This book addresses emerging issues such as the "Power of Intangibles" in addition to IMA-defined "Equity Spread" as a gauge for value creation from the viewpoint of management accounting. It is highly recommended for finance and accounting professionals.” Jeffrey C. Thomson, CMA, CAE. President and CEO, Institute of Management Accountants (IMA).

Corporate governance. --- Business enterprises-Finance. --- Corporations-Finance. --- Investment banking. --- Securities. --- Corporate Governance. --- Business Finance. --- Corporate Finance. --- Investments and Securities. --- Governance, Corporate --- Industrial management --- Directors of corporations --- Blue sky laws --- Capitalization (Finance) --- Investment securities --- Portfolio --- Scrip --- Securities --- Securities law --- Underwriting --- Investments --- Investment banking --- Banks and banking, Investment --- Investment banks --- Financial institutions --- Law and legislation --- Business enterprises—Finance. --- Corporations—Finance.

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This Palgrave Pivot aims to examine the bourgeoning relationship between the Principles for Responsible Investment and the Credit Rating Industry. Since May of 2016, when the partnership was initially publicised, the PRI have endeavoured to incorporate Credit Rating Agencies into its initiative via its ‘ESG in Credit Ratings Initiative’, and have been working diligently to find, and create common ground between Credit Rating Agencies and Institutional Investors seeking to be more forward-looking in their investment approaches. However, in recent years the ‘Big Two’ Credit Rating Agencies – Standard & Poor’s and Moody’s – have finally received record fines for their conduct in the run-up to the Financial Crisis. There is a need, then, to examine the incorporation of the Credit Rating Agencies into such a progressive initiative. To achieve this objective, this book examines the field of ‘responsible investing’, the credit rating industry, and the power dynamic that exists between the rating industry, investors, and the PRI (via its ‘Initiative’). .

Credit ratings. --- Credit scoring systems. --- Finance departments. --- Finance --- Funding --- Funds --- Economics --- Currency question --- Management --- Credit analysis --- Commercial ratings --- Credit checks --- Credit guides --- Credit investigations --- Credit reports --- Ratings, Credit --- Management. --- Investment banking. --- Securities. --- Investments and Securities. --- Blue sky laws --- Capitalization (Finance) --- Investment securities --- Portfolio --- Scrip --- Securities --- Securities law --- Underwriting --- Investments --- Investment banking --- Banks and banking, Investment --- Investment banks --- Financial institutions --- Law and legislation

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In the last few years, the cryptocurrency bitcoin has repeatedly made worldwide headlines with its fluctuations in value and the uncertainty regarding the legal framework under which it operates. While bitcoin has swiftly become the foremost example of a virtual currency, it is by no means the only one. In-game currencies and currencies used as part of a loyalty scheme are examples as of other forms of virtual currencies. Moreover, new forms of virtual currency used mainly for investment purposes-derived from cryptocurrencies such as bitcoin-are rapidly gaining hold. This book focuses on the legal aspects of virtual currencies from the perspective of financial and economic law. It establishes a typology of virtual currencies and assesses whether they can be considered as money. The author analyzes whether the EU legal frameworks on electronic money, payment services, anti-money laundering, and markets in financial instruments can be applied to virtual currencies. A functional comparison is made to the US, where more regulatory initiative has been identified. The book concludes by answering the question of whether-and how-virtual currencies should be regulated within the EU.

Electronic funds transfers --- Currency question --- Law and legislation --- Specie payments --- Fiat money --- Free coinage --- Monetary question --- Scrip --- Currency crises --- Finance --- Finance, Public --- Legal tender --- Money --- EFT (Electronic funds transfers) --- Electronic banking --- Electronic check clearing --- Electronic money systems --- Electronic payments systems --- Electronic transfer of funds --- Funds, Electronic transfers of --- Telebanking --- Transfers of funds, Electronic --- Electronic data interchange --- Electronic benefits transfers --- Home banking services --- Etats-Unis

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Verena Anna Berger investigates the question to what extent credit default swap spreads are impacted by an increase of government bond yields within the European area. In the first step, these spreads are computed with the help of the Hull-White model to demonstrate the theoretical calculation. The main findings which are calculated by using the Fontana-Scheicher model show that a negative impact on credit default swap spreads is observed based on the analysed data. However, there is high variation between the analysed countries so that a country-specific evaluation instead of a general review is recommended by the author. Contents • Theoretical underpinnings • Modelling credit default swap prices • Simulation of government bond spread increase Target Groups • Lecturers and students of finance, asset management • Experts in asset management, sovereign bond markets and credit default swaps  The Author Verena Anna Berger graduated from the University of Applied Science Vienna with a Master of Arts in Quantitative Asset and Risk Management. As a risk manager, she is currently employed by an investment company.

Finance. --- Investment banking. --- Securities. --- International Finance. --- Investments and Securities. --- Government securities. --- Credit derivatives. --- Fixed-income securities. --- Fixed-income investments --- Fixed-income securities --- Investments, Fixed-income --- Securities, Fixed-income --- Securities --- Derivative securities --- Government agency securities --- Government bonds --- Public securities --- Treasuries (Securities) --- Treasury bonds --- Bonds --- Debts, Public --- Law and legislation --- International finance. --- Blue sky laws --- Capitalization (Finance) --- Investment securities --- Portfolio --- Scrip --- Securities law --- Underwriting --- Investments --- Investment banking --- Banks and banking, Investment --- Investment banks --- Financial institutions --- International monetary system --- International money --- Finance --- International economic relations

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“I give this book to my sales, trading, and legal teams as a great foundation to build market and product knowledge” –Bill Bamber, Managing Director, Structured Investment Products, Canadian Imperial Bank of Commerce (CIBC) “An excellent logical and explanatory guide to the assets and strategies available to investors globally” –Emanuel Derman, Columbia University This book is a practical and concise guide to major asset classes, investment strategies, and foreign markets. For investors familiar with one “box” of investments, this book serves as a non-technical introduction to other “boxes” worth diversifying into, such as bonds, real estate, private equity, cryptocurrencies, and Chinese A-shares. Readers with no prior finance background will find this book an accessible entry point to investing. Written by a practitioner, this volume can serve as course material for introductory investing classes or as an on-the-job guidebook for professionals and practicing investors. Tariq Dennison is a Hong Kong based fund manager and pension advisor investing retirement accounts across global stock, bond, and alternatives markets. An American raised in Europe and long resident in Asia, Tariq has a lifelong natural interest in interest rates, foreign currencies, and frontier and out-of-favor markets. He has worked at Accenture, Commerzbank, Bear Stearns, J.P. Morgan, CIBC, and Société Générale in San Francisco, New York, Toronto, London and Hong Kong, before starting GFM Asset Management in 2014. Tariq teaches fixed income and alternative investments at ESSEC Business School in Singapore, CFA Singapore, and the Hong Kong Society of Financial Analysts, and holds a Bachelor’s degree from Marquette University and a Master’s in Financial Engineering from the University of California at Berkeley’s Haas School of Business.

Investments. --- Investments, Foreign. --- Finance. --- Investment banking. --- Securities. --- Investments and Securities. --- Capital exports --- Capital imports --- FDI (Foreign direct investment) --- Foreign direct investment --- Foreign investment --- Foreign investments --- International investment --- Offshore investments --- Outward investments --- Capital movements --- Investments --- Investing --- Investment management --- Portfolio --- Finance --- Disinvestment --- Loans --- Saving and investment --- Speculation --- Blue sky laws --- Capitalization (Finance) --- Investment securities --- Scrip --- Securities --- Securities law --- Underwriting --- Investment banking --- Banks and banking, Investment --- Investment banks --- Financial institutions --- Law and legislation